Press ReleasesFDIC Honors Armed Services with Veterans Day Celebration; FDIC Recognized for Commitment to the Military

FOR IMMEDIATE RELEASE
November 9, 2007

Media Contact:
Andrew Gray (202) 898-7192

On November 8th, Former Senate Majority Leader Robert Dole joined Federal Deposit Insurance Corporation Chairman Sheila Bair in honoring the men and women who have served or who are currently serving in the military. In recognition of the FDIC's efforts to promote affordable lending alternatives for U.S. military members and their families, Brigadier General Lawrence E. Dudney, Director, Joint Staff Georgia National Guard, returned the chairman's salute to the troops by presenting her with a flag that flew over the Iraqi headquarters of the Georgia National Guard's 48th Brigade.

"To the 48th brigade and to all who serve in the Georgia National Guard, I will forever cherish this flag," said Chairman Bair. "It symbolizes the sacrifice of the brave men and women who serve in our armed forces to protect the values of freedom and liberty."

On stage with Chairman Bair was her one-time boss, former Senate Majority Leader Robert Dole. "Senator Bob Dole was a distinguished combat solder who overcame his injuries to become one of the greatest national leaders of our time. He represents the best of what has been called 'The Greatest Generation.'"

The FDIC actively encourages and supports its insured institutions to provide small dollar, affordable loans for all Americans, including those in the military. There needs to be alternatives to high-cost loan providers near bases across the country that target members of the military and their families.

Since 2001, a total of 21 FDIC employees have been called to active duty to help fight the war on terror. The FDIC currently employs 461 veterans, roughly ten percent of its total workforce.

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,615 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov or through the FDIC's Public Information Center (877-275-3342 or 202-416-6940). PR-94-2007